The President of Cameroon, Paul Biya, has made available to the Institute of Agricultural Research for Development (IRAD) an amount of 10 billion CFA francs (about 15.3 million dollars) intended for the development of production and wheat processing.
The funding will be released by the Ministry of Finance over a period of five years (from 2022 to 2026). “I have the honor to pass on to you the very high instructions of the President of the Republic prescribing the granting, over a period of five years to IRAD, of a subsidy totaling ten billion three hundred million FCFA dedicated to the development of the production and processing of wheat in Cameroon”, underlines a correspondence from the SG of the Presidency of the Republic, Ferdinand Ngoh Ngih, to the attention of the Minister of Finance, Louis Paul Motaze.
The letter, dated July 5, specifies that the disbursement will be staggered as follows: 3 billion FCFA in 2022; 2.75 billion FCFA in 2023; 3.1 billion FCFA in 2024; 1 billion FCFA in 2025 and 450 million FCFA in 2026.
Cameroon, like many other countries around the world, is facing a shortage of wheat, following, among other things, the conflict between Russia and Ukraine, which has slowed down exports by these two major cereal producers.
IRAD promotes agricultural development, particularly in the fields of plant, animal, forestry, fisheries and environmental production, as well as food and agro-industrial technologies. Its ambitions often come up against the limited financial means which do not always make it possible to carry out certain programs.
In 2020, Cameroon had imported 860,000 tons of wheat for an amount of 156 billion CFA francs (about 240 million dollars).
By OMA Newsletter N° 775 of 12/07/2022
Article published under the direction of Dr. Najib Kettani
The OMA, NGO with an Intercontinental vocation
For the development of cultural exchanges
Valuing human potential
The promotion and consolidation of Africa’s development, and
Inter-African integration
